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AT&T Up in a Down Market

By: DGpeddler in T | Recommend this post (0)
Thu, 13 Mar 14 1:33 AM | 507 view(s)
Boardmark this board | AT&T

Msg. 00402 of 00439
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NEW YORK (TheStreet) -- AT&T (T_) has been one of the big movers this afternoon after the telecom company announced that it is refocusing on the U.S. market after attempts to acquire shares in British telecom company Vodafone (VOD_) fell through. During an investor conference this morning CFO John Stephens said, "We're seeing the window of opportunity in owning assets (in Europe) is closing."

In refocusing on the U.S. AT&T will be working on its Project VIP initiative, which the company describes as an upgrade to its wireless and wireline network. Stephens specifically mentioned expansion of the company's Gigapower fiber optic service which currently services Austin and Dallas.

On the wireless side AT&T announced that its acquisition of Leap Wireless, which will close by the end of the month, will allow it to plug into a new market of customers. Leap owns pay as you go phone service Cricket Wireless.

http://www.thestreet.com/story/12527276/1/why-att-t-is-up-today.html?puc=yahoo&cm_ven=YAHOO

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